64% of PT Practices at Risk for Medicare Noncompliance, Survey Says
According to a Medicare risk compliance web-based survey launched by Portland, Ore-based Clinicient Inc, 64% of its respondents are at significant risk for Medicare regulatory noncompliance and consequential cash flow issues, denied claims, Medicare fines, and higher overhead costs for audit preparation and response. Respondents included a total of 441 physical therapy practice owners and managers who responded to a five question, brand neutral survey, according to a Clinicient news release.
Nancy Beckley, president of Nancy Beckley & Associates, and an expert in rehab Medicare compliance, points out that just by taking the survey, respondents demonstrated some level of awareness that noncompliance is “a real and impending threat.”
“These questions effectively predict serious risk of noncompliance. However, regardless of someone’s quiz results, the reality is that these mistakes are 100 percent preventable…” Beckley says.
The release notes that the ongoing web-based survey, which has to date received 441 participants since its launch July 1, featured five questions designed to gauge regulatory adherence. A “noncompliant” answer to one or more of the questions indicated a significant Medicare risk. Respondents were not paid for their time or prescreened, the release says.
Rick Jung, CEO, Clinicient, adds “…Regardless of the size of your practice or its location, everyone can agree that the challenges of Medicare reform are insurmountable for the therapist alone. A trusted advisor is required who can navigate every point along the therapy practice revenue cycle that is vulnerable to noncompliance.”
Source: Clinicient Inc